New York: Oil prices rose about one per cent on Wednesday on worries about the conflict in the Middle East escalating.
Limiting gains, the United States reported increased crude stockpiles as demand worries stemming from gloomy economic prospects in Europe weigh.
Brent futures rose $1.07, or 1.21pc, to $89.14 a barrel at 1:16 p.m. (1716 GMT). US West Texas Intermediate (WTI) crude rose 69 cents to $83.74.
